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Asset Adjustment

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The purpose of this function is to do bulk asset adjustments for either the following reasons: Impairment, Review of Depreciation models ( remaining life and total life) and Revaluations ( Book values, revaluation value, Insurance value)

 

Impairment and Depreciation Models can also be done manually from the Financial History tab of the Asset Information functions. But the revaluation can only be done from this function.

 

The function enables the user to export all the applicable data in Excel format , update the file and then to import the file again. Fields that can be changed are colour coded and are all marked with a turquoise colour. Please do not change any columns or other values in the file, only changes are allowed to the fields as marked. A validation action will ensure that  the data is in the correct format before the changes will be able to be processed  and inserted.

 

The bulk update function is processing these updates exactly the same way as if each record would be updated individually from the function Asset Information. The only purpose of this function is to have a method to update assets in bulk to be more time efficient and user friendly.

 

The bulk update function are linked to a specific security profile Asset Group Bulk Update. Only users with this profile will be able to update Assets.

 

The following fields can be viewed:

 

hmtoggle_plus1Asset Group

Assets to be exported can be filtered according to specific assets group. Assets can also be selected to only be exported where the book values is greater than 1. A Checkbox next to the asset group combobox must be selected for this option.

 

hmtoggle_plus1Mode

Two options exists - either to export to MS Excel or to Import from MS Excel

 

hmtoggle_plus1Update type

Review Impairment

This option will accommodate book, impairment, insurance and replacement value updates. An adjustment/impairment records will be inserted into Asset financial History for each asset for the current period - and an adjustment journal will be processed against the accounts as specified in the file.

 

 

The following fields can be updated in the MS Excel file for this option:

Debit Account: This is the account which will be debited when the adjustment  will be processed.
Credit Account: This is the account which will be credited when the adjustment  will be processed.
Book Value: This is the new book value that the asset will have after the adjustment has been processed. The new book value should be equal to the difference between the old book value and the impairment value specified.
Impairment Value: This is the new impairment value that the asset will have after the adjustment has been processed. The new book value should be equal to the difference between the old book value and the impairment value
Insured Value: This is the new insured value that the asset will have after the adjustment has been processed.
Replacement Value: This is the new replacement value that the asset will have after the adjustment has been processed.
Comments: This is any comments to be captured for reference to this adjustment for each asset

 

Review Depreciation Models

 

This option will accommodate cost centre, division, Depreciation Account, Accumulative Accounts, Depreciation models, expected salvage  and remaining life updates. A new Asset Depreciation record will be inserted into the Asset_depreciation table for each record in the file

 

 

The following fields can be updated in the MS Excel file for this option:

Financial Period: This is the financial period in which the record  will be processed. It should be the next period after the last depreciation history record.
Depreciation Model: This is the new depreciation model that will be effective with the new financial period selected.
Cost Centre: This is the cost centre who is financially responsible for the asset. The accounts selected in the other column should also correspond and belong to this cost centre or division.
Division: This is the division who is financially responsible for the asset. The accounts selected in the other column should also correspond and belong to this cost centre or division
Depreciation Account: This is the new depreciation account which will be effective with this new record.
Accumulative Depreciation Account: This is the new  accumulative depreciation account which will be effective with this new record.
Expected Salvage Value:This is the new expected salvage value to be effective with this new record.
Remaining life:This is the new remaining life to be effective with the insert of this record.
Comments: This is any comments to be captured for reference to this adjustment for each asset

 

 

Asset Revaluations

 

Revaluations should be done preferably from this function as it will ensure that all the applicable fields are updated and also that the correct procedure is followed. Revaluations are done when the following are applicable: The Cost price ( Take on value) of the asset need to be adjusted. If only the book value of an asset is adjusted the "Impairment" option should be followed. If revaluation is applicable then a Revaluation amount will be updated and kept track of for history purposes. The New book value, Total Depreciation values should also be entered, Please note: The system will not auto calculate these fields, as this is a financial management decision and the asset controller will need to ensure that he/she captures it correct. The system will test and validate that the following equation is true at all times:

Take on value =  Book value + Total Depreciation.  The revaluation value should be equal to the difference between the old and the new Book values

The revaluation value will also be applied and proportionally disposed of then disposals are done for assets. ( This is applicable for partial disposals for assets with QTY greater than 1).

 

This option will accommodate revaluations ( take on value changes) and the following fields should be entered for upload:

Take on Value: This is the is the new take on value (cost) of the asset with this revaluation record
Book Value This is the new book value with this revaluation record.
Total Depreciation Value: This is the new total depreciation value of the asset with this revaluation record The new book value should be equal to the difference between the old book value and the impairment value specified.
Revaluation Value: This is the new impairment value that the asset will have after the adjustment has been processed. The new book value should be equal to the difference between the old book value and the impairment value
Residual Value: This is the new revaluation value - and should be equal to the difference between the old and the new book value for the asset.
Financial Period: This is the financial period in which this record should be processed. This should be the next period after the last depreciation record.
Comments: This is any comments to be captured for reference to this adjustment for each asset

 

 

 

hmtoggle_plus1File Options/ Import From

Two options exist:

hmtoggle_plus1Import

This option is selected when the file is finalised in MS Excel and require importing to be processed by the system

hmtoggle_plus1Export

If the mode selected is Export to MS Excel then this button will be enabled. When clicking this button it will export all the data according to the selected criteria and report all the results in the selected filename.

The system exports the data in a specific template format and users should not deviate from this file format.

hmtoggle_plus1Validate

The validate button will only be enabled after the import of an Excel file. The system will ensure the following:

All business rules, triggers and integrities will be executed to ensure that the data is complete and accurate. The same rules applies for when the assets are processed via the Asset Depreciation, Financial History tab.
If Any error are encountered it will show and error message next to each record with the applicable problem. This will need to be corrected and revalidated before the file can be processed.
NOTE: Please ensure that assets are depreciated up to the current financial periods before adjusments are done - as this is the most common validation error. Assets should be depreciated up to date before any adjustments can be made. Therefore Asset controllers should validate and adjust their assets on a monthly basis, as adjustments posted in old periods will not be possible via the front end processing.

 

hmtoggle_plus1Apply

 

The apply will process the transaction and insert the correct records in the applicable tables ( Asset Depreciation and Asset Financial History). The apply button will only enable and allow processing if all validations was succesfull and no errors were fount